Company culture is the essential ingredient that drives employee engagement, a connected workplace, innovation and business growth.
In 2022, employees hold the power and are asking for flexible working arrangements, perks and pay rises in a post-pandemic world.
How far can they take this, and should we be listening as we grapple with the skill shortage?
How do we build retention strategies in this environment?
We believe it’s fundamental to invest in employee culture.
From our experience with clients, and a recent seminar that Sharon hosted for Smart Company, employee culture is increasingly important to individuals today and having the flexibility to Work from Home (WFH), Work from Anywhere (WFA) or Work from Office (WFO) is top of the demand list.
Our own research tells us, individuals are more likely to enjoy work when they feel comfortable and valued with their working arrangements. They want to be heard, needs are met and core values aligned, which builds better relationships with team mates.
Creating a productive place to work while maintaining work life balance is also valued to general wellbeing.
So, what are we hearing employees want from their workplace and from their employers? And why do we need to listen? To answer this question, we detailed the seven key benefits we nominated:
- Remuneration and Reward: incentives like bonuses and profit share schemes, discounts and lifestyle benefits (e.g. Subsidised childcare, car parking), discounted finance, product discounts etc. are deemed important for employees to deciding to stay.
- Pay Rises: It’s better to increase pay than lose your employees in the current skill shortage. As costs of living increase, employees are struggling to keep up. Costs to hire new employees have doubled in the last 12 months to $28k per employee.
- Technology: The right software and technology aids productivity, eases remote working and can encourage collaboration with the team and be able to work better autonomously.
- Experience: We found that team members wanted an enhanced work experience with fun such as virtual events that promote team culture, happy hours, plus in office and out of office events.
- Career development: Learning and upskilling was another plus l for career growth so post pandemic review opportunities for skills growth and leadership, from mentoring and coaching, fast tracking career pathways, opportunities, secondments and on-the-job learning.
- Brand: Employees want to feel proud of the brand they work for and see themselves and their values represented with the affiliation so build the employer brand with a conscious effort
- Workspaces and Places: Where you work is a big part of pride and how an employee perceives their workplace. The physical office design, in office perks (i.e. free coffee, subsidised food etc.) and location are just some of the aspects that excite and entice a team member to stay.
- Wellbeing: Mental health and wellbeing is always at the forefront of a great work culture. Ensuring health is prioritised and access to mental health days and resources is important.
As an integrated strategic marketing and PR agency with over 27 years of experience, Taurus stays ahead of the game in our employee brand. If you’re interested to join the Taurus Team, reach out to us at [email protected].